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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Malvern International Plc | LSE:MLVN | London | Ordinary Share | GB00BNBVJZ07 | ORD GBP0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 21.00 | 20.00 | 22.00 | 21.00 | 21.00 | 21.00 | 0.00 | 08:00:02 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Schools & Education Svcs,nec | 6.6M | -1.08M | -0.0443 | -4.74 | 5.13M |
From Apr 2019 to Apr 2024
TIDMMLVN
RNS Number : 5234N
Malvern International PLC
20 May 2020
20 May 2020
MALVERN INTERNATIONAL PLC
("Malvern" or the "Company")
Director Dealing
Malvern International plc (AIM: MLVN), the global learning and skills development partner, announces that, pursuant to the announcement of a Fundraising this morning, it has today, conditional on completion of the Fundraising, granted options to subscribe for 65,000,000 New Ordinary Shares exercisable at a price of 0.15p subject to performance conditions.
The options are exercisable after the third anniversary of Admission subject to certain performance conditions. Of the options awarded, 50 per cent. are exercisable subject to the Company's share price reaching 1.51 pence over 40 consecutive business days. The remaining 50 per cent. are exercisable subject to the Company's share price reaching 2.62 pence for over 40 consecutive business days.
Of the options awarded 32,000,000 have been granted to Sam Malafeh, Chief Executive Officer.
The grant of options to Mr Malafeh as a Director of the Company constitutes a related party transaction under the AIM Rules. The independent Directors (being Mark Elliott and Alan Carroll) consider, having consulted with WH Ireland, the Company's nominated adviser, that the terms of grant of the options to Mr Malafeh are fair and reasonable insofar as the shareholders of Malvern are concerned.
Again pursuant to the announcement of a Fundraising this morning, the Company also announces that, conditional on completion of the Fundraising, it has agreed to convert outstanding salaries and fees into New Ordinary Shares at a price of 0.15p to the following Directors:
-- Mr Sam Malafeh (Chief Executive Officer) will receive 43,333,333 New Ordinary Shares; -- Mr Mark Elliott (Non-Executive Chairman) will receive 3,982,453 New Ordinary Shares; and, -- Mr Alan Carroll (Non-Executive Director) will receive 1,840,400 New Ordinary Shares.
Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released earlier today in respect of the Proposed Fundraising unless the context provides otherwise.
The tables appearing beneath the 'Enquiries' section below provide further details for each Director in accordance with the requirements of the EU Market Abuse Regulation.
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Enquiries:
Malvern International Plc www.malverninternational.com
Dr Sam Malafeh - Chief Executive Via Communications Portfolio
Officer
WH Ireland (NOMAD & Broker) www.whirelandcb.com
Mike Coe / Chris Savidge 0207 220 1666
Media enquiries
Communications Portfolio ariane@communications-portfolio.co.uk
Ariane Comstive +44 7785 922 354
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Sam Malafeh
------------------------------- ------------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------- ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Malvern International plc
------------------------------- ------------------------------------------------
b) LEI 213800VWAV2HXY1OUT29
------------------------------- ------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------------
a) Description of the Ordinary Shares of 1p each which,
financial instrument, subject to the passing of the Resolutions
type of instrument at the General Meeting, will be
sub-divided into New Ordinary Shares
of 0.01p
Identification code GB00B04XB679
b) Nature of the transaction Award of Options
Receipt of shares in lieu of salary
------------------------------- ------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
Award of options 0.15p 32,000,000
Shares in lieu of fees 0.15p 43,333,333
d) Aggregated information Award of options Shares in lieu
of shares
- Aggregated volume 32,000,000 43,333,333
- Price GBP48,000 GBP65,000
e) Date of the transaction 20 May 2020
------------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------- ------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Elliott
--------------------------------- ------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status Non-Executive Chairman
--------------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name Malvern International plc
--------------------------------- ------------------------------------------------
b) LEI 213800VWAV2HXY1OUT29
--------------------------------- ------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where
transactions have been conducted
-----------------------------------------------------------------------------------
a) Description of the Ordinary Shares of 1p each which,
financial instrument, subject to the passing of the Resolutions
type of instrument at the General Meeting, will be
sub-divided into New Ordinary Shares
of 0.01p
Identification code GB00B04XB679
b) Nature of the transaction Receipt of shares in lieu of salary
--------------------------------- ------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
Shares in lieu of
fees 0.15p 3,982,453
d) Aggregated information Shares in lieu
of shares
- Aggregated volume 3,982,453
- Price GBP5,974
e) Date of the transaction 20 May 2020
--------------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
--------------------------------- ------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alan Carroll
--------------------------------- ------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status Non-Executive Director
--------------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name Malvern International plc
--------------------------------- ------------------------------------------------
b) LEI 213800VWAV2HXY1OUT29
--------------------------------- ------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where
transactions have been conducted
-----------------------------------------------------------------------------------
a) Description of the Ordinary Shares of 1p each which,
financial instrument, subject to the passing of the Resolutions
type of instrument at the General Meeting, will be
sub-divided into New Ordinary Shares
of 0.01p
Identification code GB00B04XB679
b) Nature of the transaction Receipt of shares in lieu of salary
--------------------------------- ------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
Shares in lieu of
fees 0.15p 1,840,400
d) Aggregated information Shares in lieu
of shares
- Aggregated volume 1,840,400
- Price GBP2,761
e) Date of the transaction 20 May 2020
--------------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
--------------------------------- ------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DSHFLFLSEEIIFII
(END) Dow Jones Newswires
May 20, 2020 10:17 ET (14:17 GMT)
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